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China’s Crude Oil Imports Surge 5%, Natural Gas Drops 15%

4/15/2025

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Summary

Story summary

In March 2024, China’s crude oil imports surged nearly 5% from the previous year, reaching 51.41 million metric tons, fueled by a boost in deliveries from Iran and Russia. With an average of 12.1 million barrels per day, this marks the highest level since August 2023. In contrast, natural gas imports plummeted 15%, impacted by soaring costs and adequate domestic supply.

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Story summary

In March 2024, China’s crude oil imports surged nearly 5% from the previous year, reaching 51.41 million metric tons, fueled by a boost in deliveries from Iran and Russia. With an average of 12.1 million barrels per day, this marks the highest level since August 2023. In contrast, natural gas imports plummeted 15%, impacted by soaring costs and adequate domestic supply.